ECONOMY

Gains reduced to a minimum as stock rise loses steam

The local benchmark rose for the third day in a row on Tuesday although some impressive gains chalked up early in the session mostly evaporated once turnover started picking up. This – along with the 0.37 percent decline posted by the banks index – suggests that the latest streak of growth will probably be short-lived.

The Athens Exchange (ATHEX) general index ended at 942.70 points, adding 0.37 percent to Monday’s 939.25 points. The large-cap FTSE/ATHEX 25 index expanded 0.25 percent to 307.89 points, but small-caps gave up 0.02 percent.

Piraeus Port Authority outperformed, adding 6.71 percent, with Viohalco rising 5.32 percent and EYDAP climbing 5 percent. Grivalia Properties lost 1.68 percent and Alpha Bank fell 1.66 percent.

In total 71 stocks recorded gains, 37 suffered losses and 19 closed unchanged.

Turnover amounted to 61.6 million euros, down from Monday’s 64.5 million.